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Intraday: Bullish
Technical Analysis
Preference:
A Buy is in order if prices trade above 1.34384 with take profit at 1.34896.
Alternative scenario:
Sell is in order if price trades below 1.34378 with take profit at 1.34061.
Fundamentals:
No major economic data with direct bearing on the commodity.
Comment: USD has been on a free fall against the CAD, we could attribute that to a number of reasons like average earning, this saw the average wage rate in the US reduce to -1.00% meaning people are working more for less pay. Though the civil un-rest and protests have not dented the US market, now we are seeing a surge in investors confidence that the US dollar would rise back to its glory days.
Analysis: SCRUM Team
